United Commercial Bank PLC (UCB) successfully held its 42nd Annual General Meeting (AGM) on July 31, 2025, at the Kurmitola Golf Club in Dhaka.
The meeting was presided over by UCB’s Chairman of the Board of Directors, Sharif Zahir. Key figures such as Independent Director and Vice Chairman Md. Shazzad Hossoin, Director and Executive Committee Chairman Md. Tanvir Khan, and Managing Director & CEO Mohammad Mamdudur Rashid were also present, according to a press release.
This AGM marked the first under the newly formed board, supervised by Bangladesh Bank. During the meeting, shareholders approved a proposal to double UCB’s authorized capital from Tk 2,500 crore to Tk 5,000 crore. Additionally, the AGM approved the issuance of right shares to increase paid-up capital and the issuance of new shares for strategic investors to strengthen the bank’s future growth.
The Board of Directors was authorized to explore partnerships with international institutional investors in the banking, digital banking, and development financial institutions (DFIs) sectors, to raise additional capital.
Shareholders expressed satisfaction with UCB’s performance, highlighting Tk 7,783 crore in net deposits and over 300,000 new accounts opened within six months. UCB’s Chief Financial Officer Faruq Ahmad, FCA, formally declared the AGM closed, thanking all participants for their support.